Beijing Sevenstar Electronics Co., Ltd. (SZSE:002371) agreed to acquire Beijing NMC Co Ltd. from Beijing Electronics Holding Co., Ltd., Beijing Sevenstar Science & Technology Co., Ltd, Beijing Yuanhe Electronic Technology Co., Ltd. and The Institute of Microelectronics of Chinese Academy of Sciences, Endowment Arm for approximately 930 million in stock on December 26, 2015. Beijing Sevenstar Electronics will issue 53.22 million shares for the deal. In related transaction, Beijing Sevenstar Electronics Co., Ltd. will issue shares to three funds to raise up to CNY 930.8 million. Beijing North Microelectronics reported for year ending December 31, 2014, total assets of CNY 1.1 billion, total liabilities of CNY 834 million, owner’s equity of CNY 313 million, revenues of CNY 266 million, operating loss of CNY 273 million, total profit of CNY 38.7 million and net profit of CNY 32.8 million. The transaction already received approval from Sevenstar's directors. On December 23, 2015, Beijing Electronics Holding Co., Ltd. directorate approved the transaction. On December 24, 2015, Beijing Sevenstar Science & Technology Co., Ltd. stockholders meeting approved the transaction. On December 15, 2015, Beijing Yuanhe Electronic Technology special stockholders meeting approved the transaction. On May 18, 2016, the transaction was approved by China Securities Regulatory Commission Listed Company Merger and Reorganization Examination Committee. On February 26, 2016, the shareholders of Beijing Sevenstar Electronics Co., Ltd. approved the transaction. As on June 24, 2016, the terms of the deal were revised. Under the new terms, Beijing Sevenstar Electronics Co., Ltd. shall issue total 52.9 million shares as consideration, thereby making the purchase prices as CNY 1.5 billion. China Securities Co., Ltd. acted as Independent financial adviser, Jincheng Tongda & Neal acted as Legal adviser and Ruihua Certified Public Accountants acted as auditor in the deal. Beijing Sevenstar Electronics Co., Ltd. (SZSE:002371) acquired Beijing NMC Co Ltd. from Beijing Electronics Holding Co., Ltd., Beijing Sevenstar Science & Technology Co., Ltd, Beijing Yuanhe Electronic Technology Co., Ltd. and The Institute of Microelectronics of Chinese Academy of Sciences, Endowment Arm on July 19, 2016.